Why Smart People Make Big Money Mistakes

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Be the first to bring up a valid question pertaining to Why Smart People Make Big Money Mistakes… And how to correct them. Finance, investments, money, business, whatever you want to call it. This book discusses the question of Why Smart People Make Big Money Mistakes… And how to fix them.

why smart people make big money mistakes

Behavioral economists (the guys who design economic theories) believe that we are born with perfect knowledge of all the world around us. All of our experiences. We have an instinctual understanding of why some people make smart choices, and why others make big mistakes. The reality is that they are born with this knowledge, and that it’s been consistently proven that people make dumb decisions all the time, even when it comes to their finances.

That’s where the research ends. After years of research, they’ve found what makes people make poor decisions, and good decisions. And then they explain why this happens. It’s not a mystery at all. There are bad financial times, there are good financial times, and you have to learn how to read these cues.

The whole point of why smart people make big money mistakes is because they don’t understand how to read the financial landscape. If you understand that money flows in and out of a place, and then you understand supply and demand, you can make better decisions for your bottom line. You’ll be able to invest in places where there’s demand for what you’re selling… AND in places where there’s a surplus.

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You don’t need to be a math whiz to understand why some people will make dumb money mistakes. All you have to do is take the time to educate yourself on the subject. Once you know what’s going on, you can figure out what to do. Then you just keep doing it.

Dumb money is called dumb money because it makes no sense whatsoever. But that doesn’t make it any less real. People will always make dumb mistakes. They will always choose something that doesn’t add up. They’ll choose to buy something that doesn’t make financial sense. However, because they didn’t think about it, they can’t figure out why it didn’t work out…

The truth is, smart people are just as liable to make dumb money. They simply recognize opportunities where they might not have seen them before. And they act on those opportunities quickly. They recognize when it’s a good idea to hold onto a business instead of passing it along to someone else. When they’re given a chance, smart people are willing to do the right thing… even when it’s not popular or financially smart.

You

can learn how to do this, too. It all starts with education. If you want to know why smart people make big money mistakes… all you have to do is educate yourself. There’s really no better way to get the information you need. You’ll never stop learning.

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Unfortunately, there are tons of smart people who don’t pay attention to what’s going on in the markets. They sit back and wait for things to change. They aren’t vocal about their opinions or their fears. That’s why dumb money always wins out. Smart money steps forward and says, “You know what? This is bad, but here’s why it’s still bad.”

There’s a big secret to staying long term profitable, even in today’s market. The big secret is called, “The Power Of Positive Attraction”. I’ll give you one example that I know of… A couple of years ago, my wife was diagnosed with cancer. We all know that cancer is a horrible disease, and she knew that.

She looked at her financially and said, “This is going to be it for me, unless I get rich quick.” She was absolutely right! She had the power of positive thinking and being in touch with her inner desires that made her wealthy. She didn’t listen to what dumb money was saying, and that’s why she made so much money!

The bottom line here is, learn to listen to your inner desire and start focusing on what’s important to you. Once you start doing this, you will find yourself making more money than ever before. Hopefully, that helps!

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